Indices closed mixed.
S&P 500 @ 2097.05, low 2088.66, high 2103.48
RSI @ 60.55
CMF @ 0.068
Internals were :
UP volume led by 1.13 to 1 in NYSE & 1.83 to 1 in Nasdaq
Advancing stocks led by 1.18 to 1 in NYSE & 1.27 to 1 in Nasdaq
Net new 52 wk highs were leading by 110 in NYSE & 59 in Nasdaq
VIX UP 8.16% @ 14.19
Oil @ $49.10
Gold @ $1214.80
Stocks which closed UP 1% or more included TWTR
NXPI SPLK SPWR AMZN GG SLW AEM TCK
NTES LNKD MSFT SINA FFIV CHK SWN
TK SSYS WB BABA YELP MU CIEN
M DATA CSOD.....
AH ER...WDAY Down 2.25%, NILE UP 2.2%
AH Futures Mixed
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was under pressure from strong consumer spending and British potential exit from EU, but by close market were @ upper end of trading range. Internals were strong all over. Internal strength of the TAPE was evident even @ low of the day.Diversified portfolios are working better as sectors rotate on a daily basis. Internal strength may take this TAPE to new all time highs in short order.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Sold BAC @ 14.80
Despite the prospects of higher short term interest rates, the significant yield curve flattening has me worried. At the very least, it likely limits the upside of the banks either in perception or reality. The data this week has not been as robust as other data recently, so I wonder if we are in a "one and done" scenario, which likely won't help much. Also, the higher likelihood of Brexit could weigh on overall sentiment.
I like the idea of individual stories much better than mostly generic economic plays here.
Stocktrader
Hi Stocktrader,
Good luck with proceed of BAC.
Saleem
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